Fraud Risk Manager

Fraud Risk Manager

Location:

US-MD-Silver Spring. Address: 11900 Bournefield Way, Silver Spring, MD.

Compensation: $ to $ annually. Potential additional compensation may be possible based on experience and skills.

Eagle Bank is committed to inclusion, equity, and respect. This position is eligible for a hybrid remote work arrangement and will work in the Silver Spring, MD office four days per week.

The Fraud Risk Manager manages the operations of the fraud investigations department and the supervision of its staff. They develop policies and procedures to prevent fraud activities and to recover incurred losses. This position identifies weaknesses in current control processes and recommends enhancements. They collaborate with investigations with appropriate business partners and local, state, and federal authorities. The Fraud Risk Manager plays a critical role in developing, implementing, and managing fraud prevention and detection strategies across the organization.

Responsible for identifying, preventing, and investigating fraudulent activities to safeguard the company's assets and interests. This role works closely with cross‑functional teams and collaborates with internal and external stakeholders to ensure the effectiveness of fraud management initiatives.

• Provide second-line oversight of fraud‑related programs including check fraud, ACH fraud, wire fraud, identity theft, account takeover (ATO), elder financial exploitation, and new account fraud.
• Independently assess and challenge the effectiveness of first-line fraud detection, prevention, and investigation activities across all banking channels (retail, commercial, digital, and card).
• Maintain and continuously enhance the enterprise Fraud Risk Management Policy and supporting standards and procedures.
• Conduct periodic fraud risk assessments to identify emerging threats, control gaps, and areas of heightened risk exposure.
• Serve as a subject‑matter expert during regulatory examinations, internal audits, and third‑party reviews related to fraud risk management.
• Monitor evolving regulatory guidance (FFIEC, CFPB, OCC, FDIC, Federal Reserve) and assess impact on the bank's fraud program.
• Design and present fraud risk reporting to senior management, risk committees, and the Board as appropriate.
• Analyze fraud trends, loss data, and industry intelligence to proactively identify and communicate emerging risks / material issues.
• Partner with first‑line fraud operations, BSA/AML, cybersecurity, legal, and technology teams to ensure an integrated approach to financial crimes and fraud risk management, evaluating existing Verafin fraud agents against existing fraud tools to determine which fraud tool is more efficient.
• Create MRM documentation for all active fraud agents and conduct quarterly monitoring of the efficiency of the fraud agents.
• Collaborate with the Verafin administrator to conduct annual tuning of the Verafin fraud agents.
• Collaborate with other financial institutions and/or law enforcement regarding the recovery of assets and identification of suspects.
• Conduct fraud investigations: interviewing victims, documenting findings, and collaborating with various internal units to make an investigative determination.
• Support the fraud vendor management process, including oversight of third‑party fraud tools and platforms.
• Manage Fraud Investigation staff and the daily operations of the team. Provide training and awareness to staff on fraud risk trends, policies, and controls as well as deepening training of their roles as required. Ensure the work production, timeliness and accuracy of the team. Make employment and performance recommendations as well as complete performance reviews and manage staff leave.

Requirements:

• Bachelor's Degree in Arts/Sciences (BA/BS) in criminal justice, business administration, finance, or a related field.
• 8 years experience in fraud risk management, financial crimes compliance, or a related field within a financial institution.
• 3 years people management/supervisory experience.
• Experience with Verafin or other fraud tracking software.
• Proficient knowledge of fraud typologies across multiple…